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MOD005249 Build A Business

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MOD005249 Build A Business

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MOD005249 Build A Business

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Course Code: MOD005249
University: Anglia Ruskin University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Question:

This group presentation requires you to demonstrate your ability to examine the case study material and then to describe your findings with your group in a presentation format with slides and end with a Q&A session.Your group presentation must cover the following areas:

Introduction – covering such areas but not limited to;

The team/group,
Business and product or service,
Type of business and reasons why (e.g. limited by share, IPS, etc.),
Whether you as a business are going to make or buy.

Strategic Plan – covering such areas but not limited to;

USPs
Competitive Advantages

Marketing Plan – covering such areas but not limited to;

4/7 Ps of marketing
Budget

Operational Plan – covering such areas but not limited to;

Employees
Costs and budgets

Finance Plan – covering such areas but not limited to;

Budgets covering Cash flow and profits
Set-up/ starting costs (budgetary)

Conclusion, and
Simple bibliography on the last pages of the presentation.

This addresses Learning Outcomes: 1, 2, 3 and 4
Students need to reflect on the success of their presentation commenting on both individual and group work. 
Examine your presentation. Answer the following questions:

What went well and what you were less pleased with both from an individual and group/team perspective?
What did you learn about your personal strengths and weaknesses in the practice presentations?
What strategies/ academic frameworks did you put in place to capitalise on your strengths and improve on your weaknesses?
Did this work in the final presentation and why?
What feedback did you receive from:
The audience during the presentations.
Your lecturers.
Your fellow students.
What did this feedback tell you about your strengths and weaknesses?
What role does the fear of making mistakes play in your daily life at work, college or home?
What would you recommend as a course of action for the next time you undertake a similar exercise?

This addresses Learning Outcomes: 2 and 4
All assignments are, unless otherwise directed by the module lecturer, to be submitted via Turnitin®UK.  You must refer to the Students’ Guide to Turnitin®UK.
You must keep an electronic copy of any submitted assignment.  Do NOT rely on Turnitin®UK as a place to save your assignments.

Answer:

A bunch of aspiring chefs will aim to open up a fast food organisation in the streets of London. The business will provide all type of fast food and drinks that customers can eat while on their way to any type of journey. The business will be based on partnership type as 3 people are engaged in setting up the business. By being a businessperson, the aim is to make the business a success so that it can provide employment opportunities with the required skills as well as satisfy the customers.
Strategic Plan
USP
The USP of the organisation is to cook and deliver the food items to the customers at a quicker time and provide special gift-wraps that are available for occasional purposes such as Christmas.
Competitive advantages
Ambat et al. (2017) is of the opinion that competitive advantage can help in establishing a particular business in a market. The competitive advantage for the food delivery organisation is that it is available at a cheaper rate in the market and provides quick delivery of food within 30 minutes
Marketing Plan
4 P’s of marketing:
The marketing elements can help in determining the strategies that need to be adopted (Armstrong et al. 2015). In this case, the 4P’s of marketing will be compared with the performance of the competitors. The prices will be kept comparatively low. However, the products and services will not be compromised due to low price. Instead, the promotion will be done with assistance from word- of- mouth and flyers. The place will be initially in the surrounding areas of UK and later spread globally
Budget

Sources of Capital

 

 

Owners’ Investment (name & % ownership)

 

Your name & % ownership

 $   6,000,000

Other Investor

            25,000

Other Investor

               2,500

Other Investor

                        –

Total Investment

 $   6,027,500

 

 

Bank Loans

 

Bank 1

 $           2,500

Bank 2

               2,500

Bank 3

                        –

Bank 4

                        –

Total Bank Loans

 $           5,000

 

 

Other Loans

 

Source 1

 $         65,000

Source 2

            25,000

Total Other Loans

 $         90,000

Operational Plan
Operational plan involves structuring the strategies and competencies that a company requires for attaining success (Lidstone and MacLennan 2017). The number of employees of the company will be limited to 2- 4. The division will be made as such that two people will cook and the other two will deliver the food. The number of employees will be increased later on depending on the necessity. At the same time, cost and budget will be kept reasonable to capture the market and avoid additional expense.
Finance Plan

Summary Statement

 

 

Sources of Capital

 

Owners’ and Other Investments

 $   6,027,500

Bank Loans

               5,000

Other Loans

            90,000

Total Source of Funds

 $   6,122,500

 

 

Startup Expenses

 

Bldgs / Real Estate

 $       135,000

Leasehold Improvements

            12,000

Capital Equipment

          174,000

Location / Admin Expenses

               5,000

Opening Inventory

                        –

Advertising / Promo Expenses

            45,750

Other Expenses

            50,000

Total Startup Expenses

 $ 12,666,750

Budget with cash flow

 

 

Year 1

Year 2

Year 3

Operating activities

 

 

 

 

Net income

$0

$0

$0

 

Depreciation

$64,200

$65,484

$66,768

 

Accounts receivable

$0

$0

$0

 

Inventories

$0

$0

$0

 

Accounts payable

$0

$0

$0

 

Amortization

10,000

10,000

$10,000

 

Other liabilities

5,000

5,000

$5,000

 

Other operating cash flow items

0

0

$0

 

Total operating activities

$79,200

$80,484

$81,768

 

 

 

 

 

Investing activities

 

 

 

 

Capital expenditures

$0

$0

$0

 

Acquisition of business

0

0

0

 

Sale of fixed assets

$0

$0

$0

 

Other investing cash flow items

0

0

0

 

Total investing activities

$0

$0

$0

 

 

 

 

 

Financing activities

 

 

 

 

Long-term debt/financing

($95,000)

$0

$0

 

Preferred stock

0

0

0

 

Total cash dividends paid

5,000

5,000

5,000

 

Common stock

0

0

0

 

Other financing cash flow items

0

0

0

 

Total financing activities

($90,000)

$5,000

$5,000

 

 

 

 

 

Cumulative cash flow

($10,800)

$85,484

$86,768

 

 

 

 

 

Beginning cash balance

$0

($10,800)

$74,684

Ending cash balance

($10,800)

$74,684

$161,452

Conclusion
            Based on the analysis of the business plan it can be said that the business may suffer financial loss in its first year, however, with the growth in the market it can continue to thrive and become a household name in the UK. Maintaining the business properly require proper management skills that need to be implemented so that the business engages in keeping the customers satisfied as well as the customers.
Part II Satisfaction and dissatisfaction
I am particularly satisfied with the purpose of the assignment as it was well described and had provided valuable points for future use. At the same time, I have managed to formulate the budget clearly and portrayed the picture of the business in a detailed manner. However, one of the dissatisfactions that I faced as that there was a clear understanding of the topic while it was being presented. Failure of identify a specific target audience was another reason for my dissatisfaction. In addition, there was lack of valid information and the strategies related to marketing were not defined clearly. Despite this, the audience attending the presentation could relate with the concept in a proper manner.
Personal strength and weakness
One of the strengths that I had was I managed to remain fluent throughout the assignment. I had not been nervous may be because the project had been completed on time without any problems. However, there were certain limitations that I need to work on so that future presentations can be provided without any issues. I need to increase my vocabulary so that I can use more terminologies during the presentation. I also need to make considerable research about the concepts that I am presenting so that more details can be provided. Despite completing the project within the limited period, I need to ensure that collaboration and bonding with the team is made.
Strategies used during the final presentation
In order to improve my weakness I started reading books that provided me with detailed information about the manner in which I can present my thoughts in the future. I started using a dictionary to improve my vocabulary. I tried to capitalise on my strength by taking part in debated and convincing the team members to continue helping me during my presentation. Such strategies helped me during my final presentation so that I can remain confident while delivering the topic.
Feedbacks received:
Audience: The feedback received from the audiences was mostly positive as the people attending the presentation had a thorough knowledge about the topic. Questions were asked which helped me to understand that the audiences were interested in the topic presented to them.
Lecturers: The lecturers on the other hand, were critical and countered every statement that I had made. This was the time that I had realised my limitations and the manner in which I need to improve my vocabulary and presentation skills.
Fellow students: My team members provided me support throughout the presentation. My seniors in the team had supported me by showing faith in me about being able to communicate with the audience. Although there were less interaction between the team members and me, it did not hinder the success of the presentation.
Impact of the feedback
            The impact of the feedback received from the audience, lecturers and the fellow students provided me with the perspective of understanding my strengths and weakness. I need to ensure that I have the proper knowledge about the topic and I get to implement it during my presentation. I had understood the areas that I had lacked as my fellow team members brought this to my attention. I was not aware of the lack of skills I had in trying to solve problems instantly. I managed to understand that particular problem and tried to rectify my errors. I even understood my strengths as I had received positive reviews from the audiences for my presentation. This provided me with an opportunity to gain confidence about my communication skills and the manner in which I can use it for my strength towards gaining the trust of the people with whom I communicate.
Role of fear of making mistakes
            The fear of making mistakes hampers my creativity. I become reluctant to try out new techniques or apply new skills that I learned as failure of it need to be reprimanded. I fear of losing the trust of my team members if I am unable to meet the expectations that they have on me. This threatens my ability to provide in-depth analysis of a topic that I am curious to know. Apart from this, I fear that the lecturers may not appreciate my presentation if I try to involve enough creativity in terms of transition of the slides or colour combination. Therefore, I have to limit my knowledge to a small canvas without opportunities for expansion.
Recommendation
            The first change I would like to make is that I would become a proper team member. I would support my team members and ensure that I gain enough knowledge about the topic that I am preparing. I need to be more focused and concentrate using terminologies that can help me to provide good and effective presentation in the future.
Bibliography
Ambat, L.M.C., Cabagnot, T.R., Flores, D.J.C. and Tiong, R.C.F., 2017, November. A Study on Designing a Marketing Plan for a Start-Up Business in the Philippines. In Ascendens Asia Journal of Multidisciplinary Research Conference Proceedings (Vol. 1, No. 2).
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction. Pearson Education.
Lidstone, J. and MacLennan, J., 2017. Marketing planning for the pharmaceutical industry. Routledge.
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.
Pride, W. and Ferrell, O.C., 2015. Marketing 2016. Boston, MA: Cengage Learning.
Yeo, V.C.S., Goh, S.K. and Rezaei, S., 2017. Consumer experiences, attitude and behavioral intention toward online food delivery (OFD) services. Journal of Retailing and Consumer Services, 35, pp.150-162.

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